Abacus Life, Inc. (NASDAQ:ABL) Receives Average Rating of “Buy” from Analysts

Abacus Life, Inc. (NASDAQ:ABL) has earned an average rating of “Buy” from the six analysts that are presently covering the company, Marketbeat reports. Five equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $14.30.

Separately, B. Riley dropped their price target on shares of Abacus Life from $17.00 to $15.00 and set a “buy” rating on the stock in a research note on Tuesday, January 7th.

Institutional Investors Weigh In On Abacus Life

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Evernest Financial Advisors LLC grew its position in shares of Abacus Life by 63.8% during the fourth quarter. Evernest Financial Advisors LLC now owns 110,250 shares of the company’s stock worth $863,000 after acquiring an additional 42,950 shares during the last quarter. Principal Financial Group Inc. grew its position in Abacus Life by 7.9% during the 3rd quarter. Principal Financial Group Inc. now owns 1,011,143 shares of the company’s stock worth $10,233,000 after purchasing an additional 74,172 shares during the last quarter. Charles Schwab Investment Management Inc. acquired a new position in Abacus Life in the third quarter valued at $614,000. Geode Capital Management LLC raised its holdings in shares of Abacus Life by 439.6% in the third quarter. Geode Capital Management LLC now owns 171,917 shares of the company’s stock valued at $1,741,000 after buying an additional 140,054 shares during the last quarter. Finally, Royce & Associates LP raised its holdings in shares of Abacus Life by 339.9% in the fourth quarter. Royce & Associates LP now owns 1,306,431 shares of the company’s stock valued at $10,229,000 after buying an additional 1,009,431 shares during the last quarter.

Abacus Life Price Performance

Abacus Life stock opened at $7.15 on Friday. The stock has a market cap of $691.01 million, a P/E ratio of -39.72 and a beta of 0.14. The company has a fifty day simple moving average of $7.61 and a 200-day simple moving average of $8.31. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.65. Abacus Life has a 12-month low of $6.75 and a 12-month high of $12.50.

Abacus Life (NASDAQ:ABL) last announced its quarterly earnings results on Thursday, March 27th. The company reported $0.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.13 by $0.03. Abacus Life had a positive return on equity of 12.88% and a negative net margin of 11.65%. The company had revenue of $33.21 million during the quarter, compared to the consensus estimate of $28.76 million. Equities analysts expect that Abacus Life will post 0.62 EPS for the current fiscal year.

About Abacus Life

Abacus Life, Inc operates as an alternative asset manager specializing in life insurance products. It purchases life insurance policies from consumers seeking liquidity and manages policies over time via trading, holding, and/or servicing. The company was founded in 2004 and is based in Orlando, Florida.